PRESS RELEASE
Federal Deposit Insurance Corporation
October 31, 1995
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-66-95
AT AMERICA'S COMMUNITY BANKERS' CONVENTION FDIC CHAIRMAN
SAYS NEW BUSINESSLIKE APPROACH INCREASES EFFICIENCY,
REDUCES BUREAUCRACY, CUTS COST
FOR IMMEDIATE RELEASE
BOSTON -- Federal Deposit Insurance Corporation Chairman Ricki Helfer today said
retooling and repositioning the FDIC will increase efficiency, reduce bureaucracy and
cut costs. This year alone, she said, FDIC positions will be reduced by nearly one-third
since 1993 and spending will be reduced by nearly one-fifth.
"I want to run the FDIC the way a business operates -- by striving for greater
productivity and enhanced performance, by using rigorous cost/benefit analysis, and by
relying on up-to-date management concepts and technology," Chairman Helfer told the
convention of America's Community Bankers.
"I have spent the last year looking for ways to make the FDIC more efficient, to get
greater productivity and more return for every dollar spent -- and I will continue to do
that. This means using the resources of the FDIC more effectively and reviewing
everything we do -- as supervisor, insurer, liquidator and employer -- to increase the
efficiency of the FDIC and to reduce costs," said Chairman Helfer, whose businesslike
approach has brought to the FDIC the first strategic and corporate operating plans in its
history.
Chairman Helfer told the convention FDIC expenses would be reduced by about one-
fifth this year and positions reduced by more than one-third from the 1993 high of
15,611. "There is more we need to do to reduce staff and expenses as the remaining
assets of failed banks and thrift institutions are disposed of, and we will do it," Chairman
Helfer said.
I became FDIC Chairman a year ago with the intention of retooling and repositioning the
organization," she said. "Our focus cannot be largely on liquidating failed banks, our
Federal Deposit Insurance Corporation
October 31, 1995
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-66-95
AT AMERICA'S COMMUNITY BANKERS' CONVENTION FDIC CHAIRMAN
SAYS NEW BUSINESSLIKE APPROACH INCREASES EFFICIENCY,
REDUCES BUREAUCRACY, CUTS COST
FOR IMMEDIATE RELEASE
BOSTON -- Federal Deposit Insurance Corporation Chairman Ricki Helfer today said
retooling and repositioning the FDIC will increase efficiency, reduce bureaucracy and
cut costs. This year alone, she said, FDIC positions will be reduced by nearly one-third
since 1993 and spending will be reduced by nearly one-fifth.
"I want to run the FDIC the way a business operates -- by striving for greater
productivity and enhanced performance, by using rigorous cost/benefit analysis, and by
relying on up-to-date management concepts and technology," Chairman Helfer told the
convention of America's Community Bankers.
"I have spent the last year looking for ways to make the FDIC more efficient, to get
greater productivity and more return for every dollar spent -- and I will continue to do
that. This means using the resources of the FDIC more effectively and reviewing
everything we do -- as supervisor, insurer, liquidator and employer -- to increase the
efficiency of the FDIC and to reduce costs," said Chairman Helfer, whose businesslike
approach has brought to the FDIC the first strategic and corporate operating plans in its
history.
Chairman Helfer told the convention FDIC expenses would be reduced by about one-
fifth this year and positions reduced by more than one-third from the 1993 high of
15,611. "There is more we need to do to reduce staff and expenses as the remaining
assets of failed banks and thrift institutions are disposed of, and we will do it," Chairman
Helfer said.
I became FDIC Chairman a year ago with the intention of retooling and repositioning the
organization," she said. "Our focus cannot be largely on liquidating failed banks, our
major role not too many years ago. It is far better to keep bank failures from happening -
- so we have to find ways to help banks stay open, operating safely and soundly, and
serving customers and communities."
Chairman Helfer said she also is directing the agency to study ways to reduce the
burden of regulation, which falls disproportionately on small banks. She said reductions
have already been made this year in the on-site examination times for safety and
soundness, compliance and Community Reinvestment Act (CRA) examinations, but
more needs to be done.
Last Updated 07/14/1999 communications@fdic.gov
- so we have to find ways to help banks stay open, operating safely and soundly, and
serving customers and communities."
Chairman Helfer said she also is directing the agency to study ways to reduce the
burden of regulation, which falls disproportionately on small banks. She said reductions
have already been made this year in the on-site examination times for safety and
soundness, compliance and Community Reinvestment Act (CRA) examinations, but
more needs to be done.
Last Updated 07/14/1999 communications@fdic.gov